Apple's apparently opened things way up on the audio front in the next iOS update—we already heard that there would be full MIDI support—which means that you can expect to see a whole new breed of music making apps arriving along with it. djay for iPad, a port of Algoriddim's popular djay for Mac software teased over at MacRumors, will be leading the wave, allowing you to load tracks from your iPod library, play two back simultaneously and detect and match BPM, change pitch and speed, adjust EQ settings, and a whole lot more.

The app will support multitasking, for playing your loops in the background while you surf the web or whatever, and you'll be able to beam your mixes to speakers wirelessly via AirPlay. The developers says latency is down to a negligible 3 milliseconds.

According to Algoriddim, djay for iPad will be available shortly after the release of iOS 4.2, which itself should be showing up any day now. As someone who's perpetually waiting for technology to catch up to the musical genius I know lay dormant inside me, I cannot wait. [MacRumors]